Naxicap set for Thermocompact P2P

Naxicap has been a Thermocompact shareholder since 1995. It sold its stake to newco Thermo Technologies, which itself is owned by Naxicap (68.54%), EPF Partners (21.88%), as well as the Mollard and Cornier families (9.33%).

Following the transaction, which was completed in December last year at a price of €22.7 per share, Thermo Technologies launched a takeover offer for the remaining Thermocompact shares, listed on NYSE Euronext Paris. The offer was also priced at €22.7 per share, a 36% premium on the average stock price over the previous six months.

The offer values the entire stock of Thermocompact at €35m and could result in the business being eventually delisted. In addition, the newco is understood to have taken on €10m of senior debt and €5m of mezzanine (supplied by IFE Mezzanine) to complete the transaction.

Company
With roots dating back to 1913, Thermocompact specialises in high-tech metallic surface coating by deposits of precious metals. The Pringy-based group was listed in 1998; it posted a €77.9m turnover and €6m Ebit in 2011.

 

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